How to send money to Mozambique

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Need to send money to Mozambique? Here are your best choices for money transfer services.

Finding a bank that can convert your dollars to Mozambican metical can be difficult, but it’s not your only option. There are many ways, including dedicated money transfer companies, you can use to wire money to your recipient in Mozambique. Before you get started, compare the transfer fees and exchange rates of the many options available to you so you can get the best deal.

Compare up to 4 providers

How do I compare my options when sending money to Mozambique?

Exchange rates. The USD > MZN exchange rate has weakened with recent dips due to political unrest that affected the economy. Compare the rate you’re offered to the mid-market rate — the rate banks and transfer services use when they trade among themselves — and look for the smallest margin between them.

Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.

Transfer speed. If it needs to be there fast, companies like Western Union and MoneyGram allow for quick cash pickups, often in minutes. If you’ve more time, you’ll get better rates and fees with an independent provider.

“Hedging” options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract.

Transfer limits. Your best option might depend on how much you want to send. For large transfers, weigh the best exchange rate — especially since providers encourage large transfers by offering low fees. For smaller amounts, consider the fees you’ll pay on top of the exchange rate.

Customer service. Most companies offer customer service by Internet chat, phone, in person or by email. Make sure help will be available if you need it.

Jonathan works in the gas and oil industry and has recently heard about niche opportunities in Mozambique. With business connections in Maputo, he explores getting money there with his local bank accounts and through PayPal. He also compares money transfer specialists for sending money to bank accounts and for cash pickups in Mozambique. Here’s what he’d pay to transfer $1,000 to Mozambique metical with two providers:

Money Transfer Company A

Money Transfer Company B

Exchange rate

1 USD = 69.891 MZN

1 USD = 71.1189

Transfer fee

$5

$10

Transfer speed

2 to 4 business days

Within 2 business days

Transfer options

Bank account transfer

Bank account transfer

Total MZN received

69,891 MZN

71,119 MZN

Jonathan knows that there are many elements that go into what his business partner will receive, but with Money Transfer Service B, he can get more money to his partner in a shorter amount of time.

M-Pesa. M-Pesa is a safe, secure way to send, receive and store money through your mobile phone or an app. Top up your account at one of more than 287,000 agent locations and then send money to loved ones, who can visit an agent to withdraw their funds.

PayPal. Electronic payment giant PayPal allows you to send money from the US to Mozambique.

Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or US Postal Service.

Foreign exchange rates explained

Exchange rate is used to determine how much one currency is worth when exchanged for another. Historically, the US dollar has been strong against the Mozambican metical — meaning you’ll be able to send more meticals to your recipient per dollar you spend. Keep in mind that exchange rates fluctuate daily. If you aren’t getting a good exchange rate one day and your recipient can wait, see what the market looks like in a few days so you can find the best deal.

Emergency cash transfers to Mozambique

Although emergency transfers may be possible, especially if a friend or family member is in a pinch, this will generally be your worst option. This is because you’ll have to pay extra money in fees for the quick speed, and your transfer provider won’t offer the best exchange rate. If your recipient can wait even a day, you may be able to avoid these extra fees and a poor exchange rate when sending money to Mozambique.

Tips for picking up cash in Mozambique

When picking up cash in Mozambique, remain cautious. Carrying large amounts of money around can be dangerous wherever you go, so keep an eye out and make sure you and your belongings are safe when moving cash from one place to another. Here are a few simple precautions you can take to prevent yourself from becoming a target:

Call ahead. Learn the company’s business hours and choose a safe time to pick up your cash. Daylight hours are best.

Bring a friend. Carrying money when alone can be dangerous. Ask a friend to come along.

Deposit your money immediately. The likelihood of losing your money to theft or simple carelessness grows the longer you have it with you. Go straight to a bank and deposit your cash as soon as possible.

Keep your cash hidden. Place your money in your purse or wallet before leaving the office. Carrying cash out in the open could make you a target.

Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

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